Share Trading comparison
eToro vs Westpac Online Investing
The biggest practical difference between eToro and Westpac Online Investing comes down to ownership structure. eToro holds your ASX shares in a custodian model under a managed investment scheme — you don't get a HIN and you can't vote or participate in rights issues. Westpac is fully CHESS-sponsored, meaning your shares sit in your own name on the ASX register with your own HIN.
Choose
eToro
if…
- ›You want zero brokerage on ASX and US trades — eToro charges $0 commission on real shares and ETFs
- ›You want to buy fractional shares on the ASX or US markets, which Westpac doesn't offer
- ›You want to trade crypto and CFDs alongside shares in the same account
- ›You want a low minimum deposit ($50) and flexible deposit methods including PayPal, credit card and Skrill
- ›You want a demo account to practise trading before committing real money
Choose
Westpac Online Investing
if…
- ›You want your ASX shares held in your own name with your own HIN under the CHESS sponsorship model
- ›You want to participate in corporate actions like rights issues, SPPs, DRPs and shareholder votes
- ›You want to trade options, managed funds or bonds — none of which eToro supports
- ›You want integrated research reports and Sharesight/Navexa compatibility for portfolio tracking
- ›You want a joint account or a kids/minor account, which eToro doesn't offer
Where they differ
| Fact | eToro | Westpac Online Investing |
|---|---|---|
| ASX brokerage | $0 flat | $4.95 minimum (0.11%) |
| CHESS sponsorship | Custodian model — no HIN | Full CHESS — individual HIN |
| Fractional shares | Yes (ASX & US) | No |
| FX spread (AUD/USD) | 0.0075% | 0.65% |
| Inactivity fee | $10 | $0 |
Verdict
Choose eToro for cheap, fractional trading; choose Westpac for true CHESS ownership and full corporate action access.
Cost calculator
What would eToro vs Westpac Online Investing actually cost you?
Punch in your trade size and frequency. We'll do the full brokerage + FX + fees maths.
All data points side-by-side
Every verified fact for both platforms. Differences are highlighted.
| Field | eToro | Westpac Online Investing |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | custodian | chess |
| Individual HIN | No | Yes |
| Individual account | Yes | Yes |
| Joint account | No | Yes |
| Company account | Yes | Yes |
| Trust account | Yes | Yes |
| SMSF account | Yes | Yes |
| Kids / minor account | No | Yes |
| asset coverage | ||
| ASX shares supported | Yes | Yes |
| ASX ETFs supported | Yes | Yes |
| US shares supported | Yes | Yes |
| US ETFs supported | Yes | Yes |
| Other markets supported | United States, United Kingdom, Germany, France, Hong Kong, Italy, Spain, Netherlands, Sweden, Belgium, Denmark, Norway, Finland, Switzerland, Portugal | United States, Canada, United Kingdom, Germany, France, Switzerland, Netherlands, Belgium, Italy, Spain, Sweden, Norway, Denmark, Finland, Austria, Portugal, Ireland, Hong Kong, Singapore |
| Fractional shares (ASX) | Yes | No |
| Fractional shares (US) | Yes | No |
| Options trading | No | Yes |
| CFDs supported | Yes | No |
| Crypto trading | Yes | — |
| Managed funds | No | Yes |
| Bonds supported | No | Yes |
| IPO access | No | Yes |
| costs hidden | ||
| FX spread (AUD/USD) | 0.75% | 65% |
| FX spread (other currencies) | — | 65% |
| Holds USD account | Yes | Yes |
| FX currency switch trick | No | — |
| Market data fees | $0/month | $0/month |
| Conditional order fees | $0 | $0 |
| Phone trade surcharge | — | $50 |
| Corporate action fees | eToro passes through cash dividends from non-leveraged real positions (debit/credit to wallet). It does not facilitate participation in rights issues, share purchase plans (SPPs), DRPs or shareholder votes because shares are held in a managed investment scheme by the custodian, not in the user's name. No explicit fee, but corporate action access is materially restricted. | Corporate action processing (rights issues, takeovers, SPPs) is generally free for CHESS-sponsored clients — Westpac/AUSIEX passes elections to issuers/registries. Specific fees only apply in exceptional circumstances per the FSG. |
| costs visible | ||
| ASX brokerage minimum | $0 | $4.95 |
| ASX brokerage percentage | 0% | 11% |
| ASX brokerage threshold | — | $28,000 |
| ASX free trade conditions | Zero commission applies to all non-leveraged (real) ASX share and ETF purchases. Leveraged / short positions are executed as CFDs and incur 0.15% open/close spread plus overnight financing. | No free brokerage offered. Lower brokerage tiers ($4.95 minimum) require settlement via linked Westpac Cash Investment Account; settling via other-bank accounts incurs $29.95 / 0.29% minimum. |
| US brokerage minimum | US$0 | US$4.95 |
| US brokerage percentage | 0% | 11% |
| Monthly platform fee | $0/month | $0/month |
| Annual platform fee | $0/year | $0/year |
| Inactivity fee | $10 | $0 |
| Withdrawal fee (AUD) | $0 | $0 |
| Off-market transfer fee | — | $50 |
| identity and trust | ||
| Legal entity name | eToro AUS Capital Limited | Australian Investment Exchange Limited (AUSIEX); Westpac Securities Limited issues the branded service |
| AFSL number | 491,139 | 241,400 |
| AUSTRAC registration | Yes | — |
| Year founded | 2,017 | 2,010 |
| Parent / ownership | eToro Group Ltd (NASDAQ: ETOR) — listed 14 May 2025; originally founded in Israel by Yoni and Ronen Assia. eToro AUS Capital Limited is a wholly-owned Australian subsidiary. | Brand: Westpac Banking Corporation (ASX: WBC); operator AUSIEX is wholly owned by Nomura Research Institute, Ltd. (TSE: 4307) |
| Country of incorporation | Australia | AU |
| Public company status | public | public |
| money movement | ||
| Minimum initial deposit | $50 | $500 |
| Minimum subsequent purchase | $50 | $0 |
| Deposit methods | Bank transfer, Debit card, Credit card, PayPal, Skrill, Neteller, POLi, Online banking | Westpac Cash Investment Account (linked), External bank Direct Credit, BPAY, Internal transfer between Westpac accounts |
| Settlement period | T+2 ASX, T+1 US (settlement managed by the eToro Service custodian; user funds reflect immediately in eToro wallet) | T+2 (ASX), T+1 (US) |
| Withdrawal time | 1-2 business days for eToro processing; total 2-10 business days end-to-end depending on payment method (bank transfer longer than card) | Same-day to 1 business day for Westpac-to-Westpac transfers; 1-2 business days to external bank accounts |
| platform ux | ||
| iOS app | Yes | Yes |
| Android app | Yes | Yes |
| Desktop platform | No | No |
| Demo account | Yes | No |
| Free real-time market data | Yes | Yes |
| Free research reports | No | Yes |
| 2FA support | SMS + authenticator app | SMS + authenticator app |
| Customer support channels | Live chat (Club members only), Email / web ticket, Help centre | phone, email, live chat, in-app |
| Support hours (AU time) | — | Phone: 8am-7pm Sydney time Mon-Fri (domestic); 24 hours on US trading days for international; Live chat: 9:30am-5pm Sydney time Mon-Fri |
| Education content | video + courses | structured courses |
| tax and reporting | ||
| Australian tax statement | Yes | Yes |
| Distribution component breakdown | — | No |
| CGT calculator / report | Yes | Yes |
| Sharesight / Navexa integration | No | Yes |
| trading mechanics | ||
| Market orders | Yes | Yes |
| Limit orders | Yes | Yes |
| Stop loss orders | Yes | Yes |
| Conditional orders | Yes | Yes |
| Auto-invest / DCA | Yes | No |
| Auto-invest sophistication | multiple | none |
| DRP (dividend reinvestment) | No | Yes |
| After-hours / overnight trading | No | No |